PM stresses justice for shared prosperity

 Kathmandu, Jan. 19

Pushpa Kamal Dahal ‘Prachanda’, Prime Minister of Nepal, said that the Global Financial Architecture must be reformed to enable countries in special situations to secure finance in achieving their development visions and goals.

"To provide development justice to these countries, the developed countries must fulfill their financing commitment without delay," he said at the 19^th Summit of Non-Aligned Movement (NAM) as the leader of Nepali delegation.

The summit was organised in Kampala of Uganda on 19 and 20 January under the theme of “Deepening Cooperation for Shared Global Affluence”.

He demanded that the international trade must be just, fair, and inclusive which benefits the bottom billions.

"Globalization, as we believe has not lifted all boats uniformly, rather it has increased income disparities and the concentration of wealth in the hands of few countries," said PM Prachanda, "Global North must understand that it is not only unethical and immoral but is also unsustainable to leave half of humanity excluded from the journey of prosperity."

According to him, the NAM must stress on the economic development and prosperity of its members through the timely achievement of the 2030 Agenda for Sustainable Development and other internationally agreed development goals.

To overcome the resource deficit, along with North-South and Triangular cooperation, he called for enhancing South-South cooperation as many fellow NAM members have made significant progress both in socio-economic development as well as technological advancement.

Similarly, PM Pradhanda said that the NAM should accord high priority to addressing the institutional and capacity constraints being faced by developing and least developed countries on ‘Science, Technology, and Innovation’, which have become a game changer in today’s world.

He also maintained that the Movement should play a greater role in reforming the United Nations. "Our multilateral institutions should be inclusive, transparent, and democratic to ensure enduring peace and shared prosperity. NAM must take the lead to address common and contemporary challenges we are facing," he said.

Stating that the history of human civilization has abundantly taught that it is only the ‘cooperation’ through which humanity can achieve greater and better, PM Pradhanda said that the NAM itself stands for deepening solidarity, fraternity, and cooperation. We must strive to achieve shared affluence through stronger collaboration among ourselves, he stated.

"Prosperity cannot be the privilege of a few. It must be for everyone and every country. We must create a level playing field within and among the comity of nations so that global affluence will be shared as equitably as possible," said PM Pradhanda.

Meanwhile, he said that the consequences of old and new conflicts have engulfed not only the region but also the entire world, particularly the Global South. This is high time that we find an enduring solution for peace and security through political dialogue and diplomacy with respect and dignity for all, he said.  

He said that though the Movement has continued to struggle for a just, equitable, inclusive, peaceful, and prosperous world order, today's world is full of injustice, inequality, division, discord, and exclusion.

Moreover, protectionism, violent extremism, and war and conflict are on the rise. Likewise, military expenditures and the arms race are soaring.

According to PM Prachanda, as the most representative organization after the United Nations, the Movement must play a defining role in establishing a just, equitable, and prosperous world for security, stability, and prosperity.

Talking about Nepal's policy, he said that the country pursues independent, objective, balanced, and non-aligned foreign policy. "Our foreign policy is based on sovereign equality, mutual respect, mutual benefit, and peaceful settlement of disputes. Principles of non-alignment constitute one of the fundamental tenets of Nepal’s foreign policy," he said.

As a peace-loving nation, he deplored all kinds of conflicts and geo-political rivalries in the world and said that the conflict situation in Ukraine and Gaza is deeply distressing.

"Nepal looks forward to seeing peace and stability in the Middle East with a two-state solution for Israel and Palestine, living side by side in peace and security within secure and recognized international borders based on relevant United Nations resolutions," he said. 

 Published in The Rising Nepal daily on 20 January 2024.